Tax benefits to be provided to entrepreneurs who hire graduates

In Uzbekistan, entrepreneurs who hire university graduates will pay income tax and social tax for young specialists at a rate of 1% for one year. President Shavkat Mirziyoyev announced this today, June 30, during a meeting with young people.

It was also noted that there are currently another 1 million young people who are not included in the Social Register but have been deprived of parental care, returned from military service, returned from labor migration, served a sentence or have disabilities. To support them, the “Guaranteed First Step” package will be introduced.

As part of this package, students who train unorganized young people under the “mentor-student” program and help them enter universities will receive additional points when applying for master’s programs and will be given priority in receiving state scholarships.

The President called on young entrepreneurs who have created their own brands in trade, services and manufacturing to teach their peers how to run a business. For this purpose, the Youth Mini-Franchise program will be launched.

Under the program, young entrepreneurs expanding their activities will be allocated land plots and loans on preferential terms. Young men and women who receive franchises of local brands will be provided with interest-free loans of up to 300 million soums from the Youth Entrepreneurship Fund.

It was announced that 500 billion soums will be allocated to finance these programs.

Earlier, it was reported that young people learning professions in Uzbekistan would be provided with professional vouchers in the form of interest-free loans.